Westamerica Bancorporation (NASDAQ:WABC) SVP George S. Ensinger Sells 635 Shares

Westamerica Bancorporation (NASDAQ:WABC) SVP George S. Ensinger sold 635 shares of Westamerica Bancorporation stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $47.61, for a total value of $30,232.35. Following the sale, the senior vice president now owns 4,073 shares in the company, valued at $193,915.53. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Westamerica Bancorporation Price Performance

WABC stock opened at $47.67 on Thursday. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of 8.05 and a beta of 0.56. Westamerica Bancorporation has a 1-year low of $35.52 and a 1-year high of $57.96. The firm has a fifty day moving average price of $47.04 and a two-hundred day moving average price of $49.22.

Westamerica Bancorporation (NASDAQ:WABC) last released its quarterly earnings data on Thursday, April 25th. The financial services provider reported $1.37 earnings per share for the quarter, missing the consensus estimate of $1.39 by ($0.02). Westamerica Bancorporation had a return on equity of 21.99% and a net margin of 48.35%. The business had revenue of $78.84 million for the quarter, compared to analyst estimates of $77.34 million. As a group, analysts expect that Westamerica Bancorporation will post 5.3 EPS for the current fiscal year.

Westamerica Bancorporation Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Monday, May 6th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $1.76 dividend on an annualized basis and a yield of 3.69%. Westamerica Bancorporation’s dividend payout ratio is currently 29.73%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC bought a new position in shares of Westamerica Bancorporation during the fourth quarter worth about $31,000. PNC Financial Services Group Inc. increased its stake in shares of Westamerica Bancorporation by 27.5% in the third quarter. PNC Financial Services Group Inc. now owns 1,648 shares of the financial services provider’s stock valued at $71,000 after purchasing an additional 355 shares during the period. GAMMA Investing LLC bought a new stake in shares of Westamerica Bancorporation during the fourth quarter valued at approximately $99,000. Strs Ohio acquired a new position in shares of Westamerica Bancorporation during the fourth quarter worth approximately $112,000. Finally, CWM LLC grew its holdings in Westamerica Bancorporation by 248.3% in the 1st quarter. CWM LLC now owns 3,135 shares of the financial services provider’s stock worth $153,000 after buying an additional 2,235 shares in the last quarter. 81.89% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on WABC shares. Piper Sandler dropped their price target on shares of Westamerica Bancorporation from $51.00 to $50.00 and set a “neutral” rating for the company in a research note on Friday, April 19th. StockNews.com cut shares of Westamerica Bancorporation from a “hold” rating to a “sell” rating in a research report on Tuesday, April 16th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $57.00 price objective (down from $58.00) on shares of Westamerica Bancorporation in a report on Monday, April 22nd.

About Westamerica Bancorporation

Westamerica Bancorporation operates as a bank holding company for the Westamerica Bank that provides various banking products and services to individual and commercial customers. The company accepts various deposit products, including retail savings and checking accounts, as well as certificates of deposit.